Yesterday I visited the Paramount Bay condo located on Biscayne and 20th street. Honestly when it was first launched back in 2005 I thought the project had no chance of survival because the neighborhood was not ready for such a high end project. Well, 6 years have passed and Downtown is now 100% ready for such a beautiful condo. The project got an $18 million dollars redesign by Lenny Kravitz Design firm and the developer reduced the price by 35% to 40% to an average of $400/sqft. Read the rest of this entry »
Monthly Archives: September 2011
Resorts World Miami
Ideally located in the hearth of the city, right next to the Marquis condo, Resorts World Miami will definitely become one of the major hot spots of the city.
With an innovative design, and many leisure amenities including four hotels, a shopping mall, a huge convention center an entertainment area and much more; the project is certainly be a good way to spread some activity to a quite underactive area. Read the rest of this entry »
Tourism gets Miami back on its feet
In 2011, it appears that Miami became one of the top tourist destinations in the United States. Half of Miami’s visitors come from outside of the United States especially Latin America and Europe.
This surge in tourism has had direct consequences on Miami economy. First, a sudden raise in business has helped the job growth in the region’s hospitality sector: 108,000 jobs in July 2011 compared to the 104,500 jobs in July 2010, that is to say, a growth of 3,4% in a year. Read the rest of this entry »
Mega-yacht slips soon available…
If you were wondering if anything was ever going to break ground in the empty lot on Watson Island, stay tuned ! Hereafter is the story behind the scene of the Island Gardens plan.
The project of the Flagstone Development Group to build two luxury hotels with a mega-yacht marina may finally proceed in 2012, just for you.
Since the 2007 real estate crisis slowed down the construction timeline, the development, which was first approved by commissioners in 2001, was then forced to ask for several extensions. Two actors are rolling the dices to approve these extensions: the city of Miami commissioners and the Florida Cabinet. Read the rest of this entry »
Share of condo sales decreases compared to total residential sales
Since the beginning of 2003, condo sales have been representing a growing share of total home sales in Miami-Dade County. However, this share has known a minor cutback in July. For example, in February 2011, the market share for condos reached a pick never equaled before: 63%, leaving the remaining 37% to house sales. However, the July record represented only 56%: a slight decrease. The local brokers,as Condoideas Realty Group, see it as a good sign that the surplus of condo stock is being consumed. As a matter of fact, during the second trimester of 2011, the luxury condos inventory dropped 25%. Read the rest of this entry »